CaaS

CaaS News


TMCNet: Intuit Buys Mint.com

[November 05, 2009]

Intuit Buys Mint.com

Nov 05, 2009 (Close-Up Media via COMTEX) -- Intuit has completed its acquisition of Mint.com, a provider of online personal finance services based in Mountain View, Calif.

The transaction, announced Sept. 14, is valued at approximately $170 million and adds to Intuit's position as a provider of consumer, software-as-a-service offerings that connect customers across desktop, online and mobile.

It is expected that Mint.com's technology will be available broadly to millions of Intuit customers, starting with TurboTax products for the upcoming 2009 tax season. With future product integrations, Mint.com's "ways to save" engine will help consumers and small businesses make the most of their money, while categorization algorithms will make financial management easier. Intuit also expects that the acquisition of Mint.com will offer Intuit's financial institution clients the ability to strengthen their online offerings and deliver more value to their customers.


With the transaction complete, Aaron Patzer, former CEO of Mint.com, becomes vice president and general manager of Intuit's personal finance group, responsible for Mint.com and all Quicken online, desktop and mobile offerings.

"As a provider of Intuit's new personal finance group, I'm looking forward to bringing together the best of Quicken and all we've learned at Mint.com to help people save and do more with their money," said Patzer. "We have an opportunity to leverage new technologies and new user-interface design principles to impact more than 10 million Quicken users. Together with Intuit's expertise in tax, bill-pay and banking, we can build powerful new online services that will make it easier for people to manage their money." "We're very excited about the future of personal finance," said Dan Maurer, senior vice president and general manager of Intuit's Consumer Group. "We're blending strong leadership, innovative technology, and the power of a well-known, trusted brand with a fresh user interface to create the next generation of personal finance offerings." ((Comments on this story may be sent to newsdesk@closeupmedia.com))

[ Back To CaaS Homepage's Homepage ]

CaaS Featured Articles

[ View all CaaS Featured Articles ]

Twitter
CaaS

FOLLOW US

CaaS Whitepapers

Featured Video

CaaS Case Studies

Brochures

Latest CaaS Industry News

[ View all CAAS News ]

Online Demos

CaaS Blog Posts

FREE CaaS eNewsletter

Click here to receive your targeted CaaS Community eNewsletter.[Subscribe Now]